16 Sumimoto Mitsui Banking Corporation (株式会社三井住友銀行)

16. Sumimoto Mitsui Banking Corporation (株式会社三井住友銀行)

Sumimoto Mitsui Banking Corporation (株式会社三井住友銀行) is a bank with long history. SMBC aim to grow and prosper together with the customers, by providing services of greater value to them. SMBC aim to maximize the shareholder's value through the continuous growth of the business. Lastly SMBC aim to create a work environment that encourages and rewards diligent and highly-motivated employees.

Brief History of SMBC

• 1683: Tokugawa Shogunate grants Mitsui Takatoshi permission to act as a money changer. Takatoshi Mitsui then developed a new system of inter city loans.
• July 1876: Mitsui Bank is established as a private bank. (Capital stock: ¥2 million)
• June 1893: Mitsui Bank reorganizes itself as an unlimited partnership.
• November 1895: Sumitomo Bank is established as a private enterprise.
• November 1909: Mitsui Bank reorganizes into a limited company. (Capital stock: ¥20 million)
• March 1912: Sumitomo Bank reorganizes into a limited company. (Capital stock: ¥15 million)

• April 1990: Mitsui Bank and Taiyo Kobe Bank merge to form Mitsui Taiyo Kobe Bank (MTKB).
• April 1992: Mitsui Taiyo Kobe Bank is renamed The Sakura Bank.

• April 2001: Sakura Bank and Sumitomo Bank merge to form Sumitomo Mitsui Banking Corporation. (Capital stock: ¥1,276,7 billion)
• December 2002: Sumitomo Mitsui Banking Corporation (SMBC) establishes a holding company named Sumitomo Mitsui Financial Group, Inc. (SMFG) through a share transfer, SMBC becomes a wholly owned subsidiary of SMFG.
• March 2003: Wakashio Bank merges with former SMBC. (merged bank's name: Sumitomo Mitsui Banking Corporation)
• July 2008: Sumitomo Mitsui buys a 2.1 per cent stake in Barclays Bank for £500m.
• April 2008: A group of criminal hackers including Hugh Rodley, security insider Kevin O'Donoghue and Soho sex shop owner David Nash are found guilty of an attempted high-tech robbery of £229m from Sumitomo Mitsui Banking Corporation's London branch in September 2004. Henchmen Jan Van Osselaer and Gilles Poelvoorde were also found guilty of conspiracy to steal. The plot was discovered by Sumitomo Mitsui staff, and no money was stolen. Another accused, Bernard Davies, died before trial.

Type

Private (Subsidiary)

Industry

Financial services

Founded

June 6, 1996

(The Sakura Bank, Ltd.: July, 1876)

(The Sumimoto Bank, Ltd.: November, 1895)

Headquarters

Chiyoda-ku, Tokyo, Japan

Number of Locations

444 branches (as of September 30, 2009)

Area Served

Worldwide

Key people

Takeshi Kunibe (President)

Services

Personal banking

Corporate banking

Investment banking

Operating income

¥218,075 million (non-consolidated, March 2011)

Profit

¥421,180 million (non-consolidated, March 2011)

Total assets

¥115,484,907 million (non-consolidated, March 2011)

Total equity

¥5,559,293 million (non-consolidated, March 2011)

Employees

22,524 (as of March 31, 2011)